816 Chapter 15 Stockholders' Equity BRUNO CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2017 Dr. Cr. Accounts payable Accounts receivable Accumulated depreciation-buildings Additional paid-in capital in excess $ 310,000 $ 480,000 185,000 of 1,300,000 160,000 30,000 300,000 From treasury stock Allowance for doubtful accounts Bonds payable Buildings Cash Common stock ($1 par) Dividends payable (preferred stock-cash) Inventory Land Preferred stock ($50 par) Prepaid expenses Retained earnings 1,450,000 190,000 200,000 4,000 560,000 400,000 40,000 170,000 500,000 301,000 $3,290,000 Treasury stock (common at cost) Totals $3,290,000 At December 31, 2017, Bruno had the following number of common and preferred shares. CommonPreferred Authorized Issued Outstanding 600,000 200,000 190,000 60,000 10,000 10,000 The dividends on preferred stock are $4 cumulative. In addition, the preferred stock has a preference in liquidation of $50 per share. Instructions Prepare the stockholders' equity section of Bruno's balance sheet at December 31, 2017. (AICPA adapted)